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Author Topic: [ANN] [XMG] MAGI | CPU mining | mPoW | mPoS | [MagiPay]  (Read 1739935 times)
joelao95
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Coin of the Magi!


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September 09, 2014, 03:19:15 PM
 #381

I can't wait 3 more days for the launch !
This is going to be awesome with such great support and the developers commitment.


yeah me too i can't wait for this coin to launch

This coin is very awesome with the develpoer commitment

Thanks for you guys watching this coin; minging XMG and help spreading news will be the best support of us.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
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joelao95
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September 09, 2014, 03:22:39 PM
 #382

there is some typo on the proof of work part ^^, seems "r" is missing out there, just like dev missing enough '"r"est to give the best for XMG community

I am lack of quite 'a lot" sleep now, being under stress of worrying any potential issues could happen.  Smiley


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
serjent05
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September 09, 2014, 03:31:57 PM
 #383

made a video for XMG this isnt that great but at least hope this will help
http://youtu.be/UaJKTWugF8s

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September 09, 2014, 03:35:35 PM
 #384

made a video for XMG this isnt that great but at least hope this will help
http://youtu.be/UaJKTWugF8s
Good work serjent05!
 Smiley


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
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September 09, 2014, 03:41:12 PM
 #385

made a video for XMG this isnt that great but at least hope this will help
http://youtu.be/UaJKTWugF8s
Good work serjent05!
 Smiley

thanks ^^
hope other will step up to make a better video for xmg ^^, this coin is very promising! am sure about that

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libivan
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September 09, 2014, 03:43:22 PM
 #386

Congratulations to the Magi Dev Team for all the progresses reached, and also for the coming launch of this revolutionary currency.

Success!
joelao95
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September 09, 2014, 03:47:28 PM
 #387

made a video for XMG this isnt that great but at least hope this will help
http://youtu.be/UaJKTWugF8s

Thanks serjent05, this is just ... AMAZING ... I will contact you about the bounties.


  Coin MAGI  . XMG   
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  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
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.CPU Mining   PoS-II   PoM   Unique Block Reward 
Professor James Moriarty
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September 09, 2014, 04:19:50 PM
 #388


 The fact that its only cpu means too much , it means that we have a weapon against miner arms race because many people with a lot of money go get a lot of gpu farms and mine much faster whereas someone with 5$ can get another 5$ with coupon and mine this with digitalocean or whatever.

 I am very proud ambassador for magi , hopefully I will see it rise and rise in the future.

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September 09, 2014, 05:20:09 PM
 #389


 The fact that its only cpu means too much , it means that we have a weapon against miner arms race because many people with a lot of money go get a lot of gpu farms and mine much faster whereas someone with 5$ can get another 5$ with coupon and mine this with digitalocean or whatever.

 I am very proud ambassador for magi , hopefully I will see it rise and rise in the future.

Sure, CPU only coins are the best balanced solution. It's fair and safer.
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September 09, 2014, 09:10:56 PM
 #390

Clock is ticking! little more than three days.
Then it's time for Magic.


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
digitalgrow
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September 09, 2014, 09:25:01 PM
 #391

could someone please direct me to a easy user guide for digital ocean or amazon Web services
to mine this coin
thank you

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valta4065
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September 10, 2014, 12:07:50 AM
 #392

could someone please direct me to a easy user guide for digital ocean or amazon Web services
to mine this coin
thank you

Never tried it myself but here http://aws.amazon.com/free/?sc_channel=PS&sc_campaign=AWS_Free_Tier_2013_C&sc_country=US&sc_publisher=Google&sc_medium=b_core_cloud_computing_e-amazon_aws&sc_content=40951079922&sc_detail=Amazonaws&sc_category=aws_cloud_computing&sc_segment=cloud_computing&sc_matchtype=e

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joelao95
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September 10, 2014, 12:56:28 AM
 #393

could someone please direct me to a easy user guide for digital ocean or amazon Web services
to mine this coin
thank you


I am going to post the miner; you can try it out then. Basically if you used to use linux, no much difference except everything is done through commands via ssh.


  Coin MAGI  . XMG   
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
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September 10, 2014, 04:09:02 AM
 #394

One of the final translation is received.
New translation: German (by blubberli) https://bitcointalk.org/index.php?topic=776461.0

Thank you Blubberli!


  Coin MAGI  . XMG  
Coin Source : Trust Verified    [ ★ ★ ★ ★ ★ ★ ★ ]
  ♓ XMG 97XBFXZX5Ce77BQWGbg5N5ygCyqmwGJ1Z8
  ANN THREAD MAGIPAY FAQ FORUM
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
joelao95
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September 10, 2014, 05:44:45 AM
 #395

[09-10] Updated OP & coin distribution review

The OP has been reformatted and has a new look now. As I mentioned before, there are some figures yet to be reviewed for finalizing. The PoW mining is divided into two phases. The 1st phase is most important, that has dual roles. The 1st phase XMG minting is supposed to yield significant coins. Second, this is to ensure coins will be minted dominantly by CPU. We primarily focus on finalizing this phase of PoW. The overall block rewards take the following form:  


Features:

# The low diff (less people mining), minimum rewards (10 XMG/block);
# The higher diff, higher rewards, up to 500 XMG/block at diff = 75;
# At even higher diff, reduced rewards with increasing diff (constant 10 XMG/block when diff > 600)

Predicted consequence is fair distribution, avoiding big mining farms and maintaining the network hash under a certain level (unlike BTC network keep increasing). It will frustrate mining farms (if existed) when network hashrate is so high that the mining rewarding is at the decline side. Mining XMG is less profitable compared to mining others; only belivers keeping mining will receive the most out of it. Same frustration applies to GPU miners if they existed.

Important figures include:
1) minimum rewards; 2) maximum 500 XMG/block at diff = 75; 3) reducing rate at high diff.  (open to suggestions)

The most important will be 2) maximum 500 XMG/block at diff = 75. Assume mining at 500 XMG/block, the 1st phase will be done in a month. So basically I'd like to know you prefer how long the 1st phase lasts. Diff = 75 means nearly 2,000 Mhps provided Diff / Mhps is 0.037 (seems reasonable assumption, compared to DRK about 0.039 Diff / Mhps ). Considering AMD CPU miners running at around 0.5Mhps each, that amounts to 4,000 CPU. We are mostly under the limit. Please check the OP for the 2nd phase rewarding.

Edit: I noticed people are interested to the CPU mining, so I am wondering if we should give extended period of mining and increase the number of coins minted through CPU. Please suggest.

The PoS-II interest rate is shown below.

Edit: Here following is the overview of coin distribution in different stages:

1) coins to be swapped: 4.5 million (existing magicoin)
2) PoW 1st phase:        5.5 million (short-term)
3) PoW 2nd phase:        5   million (long-term)
4) PoS-II:                   10  million (long-term)

Total coins will be 25 million.
PLAN changed, read the OP and relevant discussion. We're still able to change these numbers if you like. For some reason, coin swap won't be done totally, these unswapped coins can be either destroyed or issued fairly to the bitcoin members by the time.


  Coin MAGI  . XMG   
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  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
  ANN THREAD MAGIPAY FAQ FORUM
.CPU Mining   PoS-II   PoM   Unique Block Reward 
joelao95
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September 10, 2014, 06:07:41 AM
 #396

Will try to setup active pool after XGM launch and sources available.

Hoping modified M7 for CPU-only mining will not attract any botnets to this coin.

Thanks, will be in touch for setting up the pool. Smiley


  Coin MAGI  . XMG   
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  ♓.NΣTWORK-DΣPΣNDΣNT  RΣWARDING SYSTΣM  ※ 
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September 10, 2014, 10:32:32 AM
 #397

Magicoin XMG added on https://www.altcoincalendar.info/coins/869-XMG


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September 10, 2014, 02:05:13 PM
 #398

bought some magis on swisscex last few days, looking forward to launch  Wink two more days to go

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September 10, 2014, 05:22:55 PM
 #399

Nice to see the Magi reborn. I remember the "happy magi" hours of the first version. Will happily let my cpu's get hot for this one.

Good luck to the new Magi.
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September 10, 2014, 06:04:58 PM
 #400

Nice to see the Magi reborn. I remember the "happy magi" hours of the first version. Will happily let my cpu's get hot for this one.

Good luck to the new Magi.
Welcome back Digithusiast! Smiley


  Coin MAGI  . XMG  
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  ANN THREAD MAGIPAY FAQ FORUM
BTC 1J7wFce3Ve8iPoY3BXQRvvLLcg6mfWSQHz
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